Rigel Pharmaceuticals, Inc. (RIGL) Stock

Rigel Pharmaceuticals, Inc. (RIGL) is a Healthcare stock trading at $45.89 (as of 2026-08-21), with a market capitalization of $857.22M and a trailing P/E of 13.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Rigel Pharmaceuticals develops and licenses small-molecule medicines for hematologic disorders, cancer, and rare immune diseases. Its portfolio includes Tavalisse for adult chronic immune thrombocytopenia, with additional clinical-stage programs such as fostamatinib, R289, and R552, alongside research and license collaborations with companies including AstraZeneca, BerGenBio, and Daiichi Sankyo.

Understand Rigel Pharmaceuticals, Inc.: how it makes money

Rigel Pharmaceuticals discovers and develops small molecule drugs for hematologic disorders, cancer, and rare immune diseases, and it sells its oral drug Tavalisse, while also generating collaboration contract revenue (and related periodic drug supply purchases) through partner agreements.

The company’s profit model is tied to converting drug development progress into commercial or partner-linked revenue streams, with near-term results shaped by collaboration contract revenues and drug supply purchases, while longer-term outcomes depend on clinical progress for programs such as Fostamatinib (phase III for multiple indications).

Business quality (Strong): Limited provided detail on official segment breakdowns and operating KPIs, so the segment mix view is constrained, but the development to revenue linkage and collaboration contribution are clear from the facts given.

Valuation: At 2× earnings, RIGL trades 88% below the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

Multiple late-stage development efforts: Fostamatinib is in phase III clinical trials for warm autoimmune hemolytic anemia and also for hospitalized and general COVID-19 patients, which creates potential upside if trials support regulatory approvals.
Existing marketed product and partner-linked revenue: Rigel offers Tavalisse for adult chronic immune thrombocytopenia, and it also records contract revenue from collaborations, which can support funding and visibility around program progress.

Bear case

Clinical and regulatory uncertainty: Key programs such as Fostamatinib are in phase III, so adverse trial results or regulatory setbacks could reduce future revenue potential.
Reliance on collaboration-linked revenue for part of the revenue base: The provided revenue detail emphasizes collaboration contract revenues and periodic drug supply purchases, which can vary based on partner activity and agreement terms.
Small and development-driven operating scale in the data provided: The latest period revenue provided is around 0.1B, and the company’s success depends on progressing and commercializing therapeutics, which can make results volatile.

Valuation — source: SEC EDGAR (first-party)
Price	$45.89
Market Cap	$857.22M
P/E Ratio	13.7
EV / EBITDA	9.9
Price / Book	2.01
Price / Sales	3.23
DCF Value (model)	$120.81
DCF Upside vs Price	163.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$294.28M
Net Margin	124.7%
Revenue Growth (YoY)	64.1%
EPS Growth (YoY)	1960.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.09 (safe)
Piotroski F-Score	6/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	13.7
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2
vs Sector	-36.9%
vs Industry	-20.1%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($47.83M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Raul R. Rodriguez
Employees	162
Country	US
IPO Date	2000-11-29

Related Companies (Pharmaceutical Products; 8 comparable drugmakers)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.